WEST PALM BEACH, FL (HEDGECO.NET) – The Chief Executive of a London-based hedge fund marketing company, Ian Morley told a Bloomberg correspondent, in a televised interview that higher hedge fund feesare justified. According to Morley, such fees when compared with the returns of other investments seem justifiable. He explained that the objective is for “5 to 8 percent above interest rates net ofall fees in the pocket of investors,” Morley said. Morley\u00c3\u00af\u00c2\u00bf\u00c2\u00bds remarks were made following his address to the National Association of Pension Funds investment conference in Edinburgh. Morley\u00c3\u00af\u00c2\u00bf\u00c2\u00bds speechfocused on the issue of whether hedge funds were a \u00c3\u00af\u00c2\u00bf\u00c2\u00bdpanacea or governance nightmare.”<\/p>\n
Morley told the conference that hedge funds may indeed help pension funds to protect their assets particularly following the declines of the global equity markets. Some pension funds are worried by the question of many hedge funds being located in offshore jurisdictions.<\/p>\n
To that concern, Morley said that such worries about hedge funds being dangerous are based on what he characterized as \u00c3\u00af\u00c2\u00bf\u00c2\u00bdmisconceptions\u00c3\u00af\u00c2\u00bf\u00c2\u00bd. Citing the cases of Enron, WorldCom and Parmalat, Morley explained that such failed companies were all based onshore and at the same time such companies were all under the watchful eyes of government regulators, and yet they \u00c3\u00af\u00c2\u00bf\u00c2\u00bdcaused greater destruction\u00c3\u00af\u00c2\u00bf\u00c2\u00bd Morley said.<\/p>\n
Mr. Morley was the founding Chairman of The Alternative Investment Management Association (AIMA) and has advised the Bank of England, the Central Bank of Ireland, the OECD and the EU about the managed derivatives and hedge fund industries. He was formerly Head of Derivatives and Quantitative Fund Management at AIB Govett, Managing Director of Rudolf Wolff Fund Management, and European Director of Managed Futures at Lehman Brothers.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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